2015 Pathways Annual report

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n. Provisions Provisions are recognised when the entity has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured. Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of the reporting period. o. Comparative Figures Where required by Accounting Standards, comparative figures have been adjusted to conform with changes in presentation for the current financial year. When the company retrospectively applies an accounting policy, makes a retrospective restatement or reclassifies items in its financial statements, a third statement of financial position as at the beginning of the preceding comparative period, in addition to the minimum comparative financial statements, must be disclosed. q. Critical Accounting Estimates and Judgments The directors evaluate estimates and judgments incorporated into the financial statements based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the company. r. New Accounting Standards for Application in Future Periods The AASB has issued a number of new and amended Accounting Standards and Interpretations that have mandatory application dates for future reporting periods, some of which are relevant to the company. The company has decided not to early adopt any of the new and amended pronouncements. p. Accounts Payable and Other Payables Trade and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the company during the reporting period which remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability. Pathways Annual Report 14 / 15 • 16
Note 2: Revenue And Other Income 2015 2014 $ $ REVENUE Revenue from government grants and other grants: - State Government Revenue 3,459,511 3,709,986 - Department of Social Services 842,064 1,288,972 - National Disability Insurance Scheme 386,170 - - Give Where You Live 30,000 - - Barwon Health 36,986 329,022 - Disability Services Queensland - 1,174 - DEEDI - (24,988) - FCEP - 10,877 - ACFE 2,500 26,749 - Salvation Army 38,919 84,992 - State Trustees 1,494 4,909 4,797,644 5,431,693 OTHER REVENUE: - Clearwater Business Services Income 482,920 347,759 - MadCap Café sales - 140,252 - Training and Support Services Income 156,681 387,503 - Dividends received 32,073 26,914 - Interest Received 63,439 54,968 - Sundry Income 46,988 60,407 782,101 1,017,803 Total Revenue 5,579,745 6,449,496 OTHER INCOME - (Loss) / Gain on disposal of property, plant and equipment - (236,393) - Rental income 29,301 30,223 Total other income 29,301 (206,170) Total revenue and other income 5,609,046 6,243,326 Pathways Annual Report 14 / 15 • 17
Page 1 and 2: Annual Report 14 / 15
Page 3 and 4: IN MEMORIAM - IAN BURNS Pathways Bo
Page 5 and 6: Pathways CEO Adrian Buckley served
Page 7 and 8: DIRECTORS’ REPORT Your directors
Page 9 and 10: DIRECTORS’ REPORT The total amoun
Page 11 and 12: Statement Of Financial Position As
Page 13 and 14: Statement Of Cash Flows For The Yea
Page 15 and 16: d. Property, Plant and Equipment Ea
Page 17: g. Impairment of Assets At the end
Page 21 and 22: Note 5: Trade And Other Receivables
Page 23 and 24: Note 8: Property, Plant and Equipme
Page 25 and 26: Note 11: Employee Provisions Employ
Page 27 and 28: Note 15: Related Party Transactions
Page 29 and 30: Note 17: Financial Risk Management
Page 31 and 32: Note 17: Financial Risk Management
Page 33 and 34: Note 18: Auditors Remuneration 2015
Page 35 and 36: Independent Auditor’s Report To T
Page 37: 61 Pakington Street Geelong West, V

2015 Pathways Annual report

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